Was planning to put an offer on a place and got to know that the seller is non-US resident alien . Also they mentioned that the seller is probably going to do a 1031 exchange ?
A couple of questions: Does 1031 exchange cancel out the 15% tax withholding requirement at close which I might otherwise end up being liable for later-on . Also does this complicate things for me as a buyer in any other way in terms of closing date etc.
I am a new buyer and ideally would like to keep things safe/make sure I don’t run into any issues at closing or later with IRS on if I go ahead with this
Thanks for the help